The tech industry is going through a tough time. Some of the big tech companies are either cutting spending by pausing the hiring process or laying off hundreds of employees. In fact, Tesla also shut down its San Mateo, California office and laid off hundreds of employees from its Autopilot department recently. Let’s take a quick look at tech companies that recently laid off hundreds of employees to cope with the economic downturn.
Microsoft
Microsoft recently laid off 1800 employees across different regions. The company said that this move is a part of its structural adjustments. Microsoft said that it cut some jobs as it realigned business groups and roles after the close of its fiscal year on June 30. The company, though, assured that it would continue to hire new employees and finish the current fiscal year with an increased headcount.
“Today we had a small number of role eliminations. Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly,” Microsoft stated in an official statement. The layoffs account for less than 1 per cent of the total workforce at Microsoft.
Netflix
Last month, the video streaming platform Netflix laid off around 300 employees. Notably, this is the second round of layoffs at Netflix, following job cuts a month earlier in May 2022. During the first round, Netflix laid off approx 150 employees, mainly in the U.S across departments. At the time of the second round of layoffs, the streaming platform hinted that there could be some more layoffs later this year.
Twitter also reportedly laid off 30 per cent of its talent acquisition team in July after freezing hiring company-wide. The microblogging site reportedly offered severance packages to employees laid off.
Tesla
Elon Musk-headed Tesla recently laid off 229 employees from its Autopilot team and also shut down one of its US offices. Reports suggest that Tesla laid-off workers from the San Mateo office that employed just 276 workers. The remaining 47 employees are expected to be transferred to Tesla’s ‘Buffalo Autopilot’ office. Musk, back in June, warned that he had a “super bad feeling” about the economy and planned to cut about 10 per cent of the salaried staff. The company also paused hiring.
